The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Applied Optoelectronics, Inc. (NASDAQ: AAOI) who purchased shares between July 13, 2017 and August 3, 2017. The action, which was filed in the United States District Court for the Southern District of Texas, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) a major customer was reducing its purchases of the Company’s 40G receivers; (2) the loss of this major customer’s business would have a severe negative impact on the Company’s financial performance; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until October 4, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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